Santa Monica Commercial Property Sells for Over $3 Million, Highlighting Market Resilience

The sale of a two-story building at 1231 4th Street in Santa Monica for $3,044,250 marks a significant transaction in the city's commercial real estate sector. The property, encompassing approximately 6,270 square feet on a 6,007 square foot lot, was previously home to a yoga studio and boasts high ceilings, multiple office spaces, and rear parking. Its prime location, just a block from the Third Street Promenade, adds to its appeal.

WESTMAC Commercial Brokerage Company facilitated the sale, with T.C. Macker leading the team that included Willa McNamarra Fields, Mike Rago, Woody Cook, and Colin Fields. The buyer, an owner-user, was represented by Grant La Spada and David Toomey of Cushman & Wakefield, highlighting the collaborative efforts often seen in commercial real estate deals.

This transaction not only reflects the ongoing demand for well-located commercial properties in Santa Monica but also underscores the economic resilience and transformative potential of urban commercial real estate. The involvement of prominent brokerage firms and the strategic acquisition by an owner-user signal confidence in the market's continued growth and vitality.